Всего публикаций в данном разделе: 63887
Опубликовано на портале: 15-12-2002Xavier Gabaix, David Laibson American Economic Review. 2000. Vol. 90. No. 2. P. 433-438.
Cognition requires scarce inputs, including time and concentration. Since cognition is costly, sophisticated decision-makers should use mental shortcuts, or heuristics, to reduce cognitive burdens. A model is proposed and tested that is motivated by these principles. It is believed this model achieves four goals. First, the model makes quantitative behavioral predictions and, hence, provides a precise alternative to the rational-actor hypothesis. Second, the model is psychologically plausible because it is based on the actual decisions algorithms that subjects claim to use. Third, the model is empirically testable; such a test is provided in this paper. Fourth, the model is broadly applicable, because it can be used to analyze decision problems that can be represented in tree form.
Опубликовано на портале: 15-12-2002Karen E. Dynan American Economic Review. 2000. Vol. 90. No. 3. P. 391-406.
This paper tests for the presence of habit formation using household data. A simple model of habit formation implies a condition relating the strength of habits to the evolution of consumption over time. When the condition is estimated with food consumption data from the Panel Study on Income Dynamics, the results yield no evidence of habit formation at the annual frequency. This finding is robust to a number of changes in the specification. It also holds for several proxies for nondurables and services consumption created by combining PSID variables with weights estimated from Consumer Expenditure Survey data.
Опубликовано на портале: 15-12-2002John Hassler, Jose V. Rodriguez Mora American Economic Review. 2000. Vol. 90. No. 4. P. 888-908.
This study develops a model where the allocation of human resources, intergenerational social mobility, and technological growth are jointly determined. High growth endogenously increases the equilibrium return to innate cognitive ability and makes the allocation of individuals depend more on innate ability and less on social background. A social allocation based on innate ability and high growth will thus reinforce each other, implying the possibility of multiple endogenous growth equilibria.
Does culture matter in economic behavior? Ultimatum game bargaining among the Machiguenga of the Peruvian Amazon [статья]
Опубликовано на портале: 15-12-2002Joseph Henrich American Economic Review. 2000. Vol. 90. No. 4. P. 973-979.
This article addresses the assumptions that humans everywhere deploy the same cognitive machinery for making economic decisions and, consequently, will respond similarly when faced with comparable economic circumstances. These assumptions are addressed with experimental evidence from the Peruvian Amazon.
Опубликовано на портале: 15-12-2002Ernst Fehr, Simon Gachter American Economic Review. 2000. Vol. 90. No. 4. P. 980-994.
This paper shows experimentally that there is a widespread willingness of cooperators to punish free-riders. Results indicate that this holds true even if punishment is costly and does not provide any material benefits for the punisher. In addition, evidence is provided that free-riders are punished the more heavily the more they deviate from the cooperation levels of the cooperators.
Опубликовано на портале: 15-12-2002Kristin J. Forbes American Economic Review. 2000. Vol. 90. No. 4. P. 869-887.
This paper challenges the current belief that income inequality has a negative relationship with economic growth. It uses an improved data set on income inequality which not only reduces measurement error, but also allows estimation via a panel technique. Results suggest that in the short and medium term, an increase in a country's level of income inequality has a significant positive relationship with subsequent economic growth.
Опубликовано на портале: 15-12-2002John McLaren American Economic Review. 2000. Vol. 90. No. 5. P. 1239-1254.
This paper analyzes the effects of international openness on vertical integration. Vertical integration can confer a negative externality, by thinning the market for inputs and thus worsening opportunism problems; this induces strategic complementarity and multiple equilibria in the integration decision, thus providing a theory of different industrial systems or industrial cultures in ex ante identical countries. International openness thickens the market, facilitating leaner, less integrated firms, thus providing gains from international openness quite different from those that are familiar from trade theory. This may be taken as one theory of outsourcing, downsizing, and Japanization as consequences of globalization.
From disorganized capitalism to transnational fine tuning?: Recent trends in wage development, industrial relations and 'work' as a sociological category [статья]
Опубликовано на портале: 15-12-2002Raimund Hasse, Hakon Leiulfsrud British Journal of Sociology. 2002. Vol. 53. No. 1. P. 107-126.
The disorganization thesis concentrates upon globalization and market dynamics, which are believed to trigger the breakdown of any kind of institutional structures. The diversity of capitalism approach, by contrast, places much emphasis on the persistence of distinct paths of national economies. Referring to comparative data from the OECD and other sources it is shown that some variables indicate a robustness of national styles of capitalism. Others hint at resemblance: e.g. there is a striking synchronization of the overall and sectoral wage development, there is a significant decrease in industrial disputes, and the class composition tends to become more similar. A move beyond the disorganization thesis and diversity of capitalism approach is suggested. Special attention should be paid to the profound impacts of transnational institutions and knowledge carriers in the form of experts and guidelines.
Опубликовано на портале: 15-12-2002Jocelyn F. Pixley British Journal of Sociology. 2002. Vol. 51. No. 1.
Analyses of global financial markets are dominated by atomized models of decision-making and behavioral psychology (exuberance or panic). In contrast, this paper argues that overwhelmingly, finance organizations rather than individuals make decisions, and routinely use emotions in formulating expectations. Keynes introduced emotion (business confidence and animal spirits) but in economics, emotion remains individualistic and irrational. Luhmann's system theory lies at the other extreme, where emotion like trust and confidence are central variables, functional in the reaction of complexity in sub-systems like the economy. The gap between irrational emotions aggregated to herd behavior in economics, and system trust applied to finance and money as a medium of communication in sociology, remains largely unfilled. This paper argues that while organizations cannot be said to think or feel, they are rational and emotional, because impersonal trust, confidence and their contrary emotions are unavoidable in decision-making due to fundamental uncertainty. These future-oriented emotions are prevalent within and between organizations in the financial sector, primarily in generating expectations. The dynamic of corporate activities of tense and ruthless struggle is a more plausible level of analysis than either financial manias in aggregate or system trust.
Using occupational preference in estimating market wage discrimination: The case of the gender pay gap-decomposition of a reduced-form wage equation [статья]
Опубликовано на портале: 15-12-2002Eric J. Solberg American Journal of Economics and Sociology. 1999. Vol. 58. No. 1. P. 85-113.
Past occupational preference is used to estimate the gender pay gap. The use of predetermined variables in a reduced-form wage equation avoids the bias caused by using variables that are correlated with the random error. Using a gender coefficient, the potential discriminatory gap is about 11.5% when past occupational preference is included. Decomposition yields an estimate of 10.5% when past occupational preference is included. In both cases, the discriminatory gap is close to that obtained when actual occupation is included. This suggests public policy directed toward reducing hiring discrimination by gender might be misdirected.
Flexible working hours, family responsibilities, and female self-employment: Gender differences in self-employment selection [статья]
Опубликовано на портале: 15-12-2002Richard J. Boden American Journal of Economics and Sociology. 1999. Vol. 58. No. 1. P. 71-83.
Using cross-sectional data from the Contingent Work Survey of the February 1995 Current Population Survey, direct evidence is presented that there are substantial gender differences in the reasons why individuals become self-employed. In particular, women - especially women with young children - are more likely than men to cite flexibility of schedule and family-related reasons for becoming self-employed. Men's reasons for becoming self-employed show little association with their parental status. Findings suggest that employers should be encouraged to offer working conditions that are friendly to workers whose family obligations conflict with traditional, 40-hour-per-week jobs.
Опубликовано на портале: 15-12-2002Jin Heum Park American Journal of Economics and Sociology. 1999. Vol. 58. No. 1. P. 43-56.
Evidence is found consistent with the hypothesis that English-speaking ability is an important determinant of earnings of immigrants in the US. Immigrants who do not speak English well acquire English proficiency as well as other skills, and experience faster earnings growth, than immigrants who are fluent in English. For those immigrants whose first language is English or who speak English very well, fluency in English is valuable because it facilitates the transfer to the US labor market of schooling and labor market experience obtained abroad. Documenting and studying the importance of local efforts to teach English to immigrants - such as the English as a second language classes offered by the Chinese American Civic Association, Jewish Vocational Services, and El Centro de Cardenal - will be an important future research task.
Опубликовано на портале: 15-12-2002Franz Ritzmann American Journal of Economics and Sociology. 1999. Vol. 58. No. 2. P. 167-192.
From Rice Vaughan (1675): The first Invention of Money was for a Pledge and instead of a Surety" to John Manyard Keynes (1937): Our desire to hold money as a store of wealth is a barometer of the degree of our distrust, there is a tradition of monetary theory linking the demand for money with the state of confidence. In the early 19th century, Henry Thornton and Thomas Attwood analyzed the shifts in precautionary demand for money and their implications for money supply, production, employment, and the balance of payments. The tradition was interrupted during the late nineteenth and early twentieth centuries and was subsequently revived by Keynes's General Theory.
Опубликовано на портале: 15-12-2002Peter J. Boettke American Journal of Economics and Sociology. 1999. Vol. 58. No. 3. P. 371-384.
Since 1992, the rhetoric of Russian economic reformers has been one of full-speed ahead to a free-market economy. The reality, however, has diverged significantly from this rhetoric at both a broad rules of the game level and specific policy within rules level. The resulting ambiguity of the economic environment and the lingering effects of the previous system which is supposed to be reformed has led to a continued deterioration of the Russian economy. A modified defense of shock therapy as a path to a cure for Russia's economic malaise, as opposed to the cure itself, is offered.
Опубликовано на портале: 15-12-2002Jocelyn F. Pixley American Journal of Economics and Sociology. 1999. Vol. 58. No. 4. P. 1091-1116.
New developments in the sociology of money are outlined. Certain aspects of Post Keynesian monetarism are highlighted and Keynesian concepts of emotions relative to economics and economic sociology are explored. Underdeveloped areas of discourse in both sociology and economics are identified and the resulting superficiality of references to money are examined.
Опубликовано на портале: 15-12-2002Jack Birner, Ragip Ege American Journal of Economics and Sociology. 1999. Vol. 58. No. 4. P. 749-780.
Emil Durkheim published The Division of Labour in Society as part of his strategy to create a place for sociology as a science independent from economics. The book describes how social cohesion and cooperation evolve spontaneously in the course of the process of the division of labor. Freidrich Hayek developed a theory of markets and competition which was later extended into a theory of society, in which spontaneous evolution is a central element. The main force behind this process is competition and the evolution of coordination. Both authors address the problem of social stability. Hayek rejects Durkheim's analysis as constructivistic, but his criticism is unjustified. Further analysis reveals many similarities between the two authors' theories of societal evolution.
Опубликовано на портале: 15-12-2002Ning Wang American Journal of Economics and Sociology. 1999. Vol. 58. No. 4. P. 783-805.
Drawing upon the development of fish markets in a Chinese fishery community, the impact of transaction costs on the institutional structure of exchange is investigated. Fish markets in this region are connected and organized into a hierarchical network. This structure of fish markets dramatically reduces the cost for geographically distanced fishermen and consumers to execute trades. However, the provision of the market itself requires entrepreneurial efforts. The market is conceptualized as a continuum of middlemen, whose entrepreneurial efforts of buying and selling make the market work. When the middleman makes profits, the market is at work. Otherwise, the market fails to emerge. Comparing the different ways of organizing fish transportation at two distinct villages, it is shown that the choice of the market or the firm to organize fish transportation is determined by the cost of putting the market to work.
Towards a synthesis of transaction cost economics and a feminist oriented network anaylsis: An application to women's street commerce [статья]
Опубликовано на портале: 15-12-2002Anne De Bruin, Ann Dupuis American Journal of Economics and Sociology. 1999. Vol. 58. No. 4. P. 807-827.
The possibility of an interdisciplinary, tripartite merger of transaction cost economics and the concept of embeddedness with feminist insights is suggested. It is demonstrated that in isolation, a simple application of transaction cost analysis can offer an adequate explanation of economic activity. The explanatory power of this approach however, is enhanced when complemented by greater recognition of the importance of the social context in which economic activity occurs. Research from New Zealand's largest street market is used to examine women's work in street commerce, a sub-sector of the informal sector. Aspects of transaction cost analysis are applied to activities of women market vendors. It is proposed that the approach taken which considers the embeddedness of economic activity in ongoing networks of social relations, and the intertwining of economic with non-economic goals, is compatible with aspects of feminism.
Опубликовано на портале: 15-12-2002Sarah Maxwell American Journal of Economics and Sociology. 1999. Vol. 58. No. 4. P. 999-1018.
Social norms have been recognized as an important influence in long-term relational exchange between firms. It is argued that social norms are equally important in short-term discrete exchange that takes place between firms and consumers. The norms of consumer exchange are, however, of a different kind. To clarify the difference, a classification system is presented. Based on the classification, the social norms of discrete consumer exchange are defined and a method of quantifying these norms is proposed.
The economics of the criminal behavior of young adults: Estimation of an economic model of crime with a correction for aggregate market and public policy variables [статья]
Опубликовано на портале: 15-12-2002Mark Gius American Journal of Economics and Sociology. 1999. Vol. 58. No. 4. P. 947-957.
A combination of individual-level and county-level data is used to estimate an economic model of crime for young adults similar to that used by Becker (1968) and Trumbull (1989). In order to estimate a model of crime in which both individual-level and county-level data are used, it is necessary to take account of the bias introduced by using aggregate-level data in conjunction with individual-level data. In order to eliminate this bias, a technique derived by Moulton (1990) is employed. Results from a logit regression model indicate that race, sex, and peer pressure have statistically significant effects on the probability that a young adult will commit a crime. Results also suggest that police presence, as measured by county-level per capita police expenditures, does not deter young adults from committing crimes.